OKX Ventures completes seed round funding in Kakarot, a Type 2.5 ZkEVM based on Cairo, a Turing complete programming language. Cairo is designed to compile into Cairo Assembly (CASM) for generating implementation signs utilized in Stark Proofs.

Established in October 2022 during a StarkNet Hacker House community exercise, Kakarot has evolved into a regular business focused on Ethereum upgrades. Thanks to robust community engagement and the potential of Cairo, developed by the Starkware team, Kakarot quickly became equivalent to a complete opcode.

Kakarot is set to launch its initial testnet, serving as an L2 on Ethereum or an L3 on Starknet. Future plans include transitioning to a Type 1 ZkEVM, enabling every L1 node to generate Stark Proofs. Kakarot explores various ZKPs, account abstraction, and upgrade solutions to foster growth in the Web3 space.

OKX Ventures, the investment arm of the second-largest crypto exchange by trading volume and Web3 technology firm, is pleased to fund Kakarot. Leveraging Starknet and a unique code language, Kakarot addresses Starknet's compatibility issues with EVMs, facilitating Ethereum's expansion on Starknet.

OKX Ventures commits $100 million to invest in blockchain projects globally, supporting innovative blockchain technology and fostering the international blockchain ecosystem's robust development and framework value funding.